Bitcoin Slides Further, ETH Shows Resilience
This Monday, March 23, BTC continues its descent, trading at $67,849, down 1.3% for the day. The weekly decline deepens to 6.6%, a level that worries investors. ETH, at $2,053, retreats more modestly, displaying relative resilience. Trading activity is calm at the start of the week, but the trend remains bearish, with no immediate signs of a rebound.
The macroeconomic context weighs heavily. European and Asian stock markets are down, fueled by concerns over global growth. BTC, sensitive to these fluctuations, is experiencing sell-offs from traders looking to limit their losses. Furthermore, flows into spot BTC Exchange Traded Funds (ETFs) are slowing, indicating a waning of institutional demand. This lack of support weakens the price.
This day marks a significant psychological test. The $68,000 threshold, now breached to the downside, could pave the way for a retreat towards $65,000 if pressure persists. Retail investors, often more active at the beginning of the week, are adopting a wait-and-see approach. ETH, though less affected, remains vulnerable. The week ahead promises to be decisive in determining whether this movement is a temporary correction or the beginning of a deeper trend.
